SAN FRANCISCO and NEW YORK, March 5 /PRNewswire/ -- Among renewable
energy sources, solar power is viewed as likely to contribute most to the
world's primary energy supplies by 2020, according to a survey of venture
capitalists and other financial investors conducted at the recently
concluded Cleantech Forum XII in San Francisco by Jefferies & Company,
Inc., a leading investment bank focused on growing companies and their
investors. Among renewable energy sources, solar was selected by 40% of
respondents, followed by wind (33%), hydro (22%) and geothermal (5%).
"Given that hydro power represents a much greater percentage of global
energy supplies today than does solar, the survey results imply robust
growth forecasts for solar energy among conference participants," said
Jeffrey Bencik, Vice President and Equity Research Analyst at Jefferies
providing coverage of clean technology companies. "To surpass hydro by
2020, solar would need to grow faster than 30% per year, and that assumes
hydro-generated power remains flat. While wind is expected to grow quickly
as well, solar remains the more attractive investment because of the higher
growth rate, better profit margins and, at least in the US, a wide range of
investment options, including both traditional manufacturing and
potentially game-changing technologies."
In addition, 75% percent of attendees surveyed believe President Bush's
target for the US to consume 35 billion gallons of ethanol and other
alternative transportation fuels by 2017 -- up from 5 billion today -- is
attainable.
"Investors are clearly optimistic on the outlook for renewable fuels,
but several issues need to be settled before we can reach the President's
target," said Laurence Alexander, Vice President and Equity Research
Analyst at Jefferies responsible for coverage of chemicals and industrial
biotechnology. "These include the impact on grain costs, the availability
of water supplies and logistics. As part of the solution to these issues,
alternate feedstocks, such as switchgrass and algae, are attracting more
interest and may prove the more viable long-term solution. Investors are
also showing more appreciation for the favorable outlook for biodiesel and
the opportunity to integrate biofuels with biobased chemicals. The
President's goal should be achievable, but it will require additional
investment in a broader range of technologies and feedstocks."
The survey results also indicate strong investor optimism for hybrid
transportation. Asked which technology has the broadest commercial
investment potential over the next five years, 39% of respondents chose
hybrid transportation, followed by ethanol (26%), biodiesel (24%) and
hydrogen fuel cells (11%). The results support the strong optimism shown by
respondents for the attainment of President Bush's alternative fuel
consumption target, with alternative fuels accounting for half of the
responses.
Hosted by the Cleantech Venture Network(R), the Cleantech Forum was
held at the San Francisco Marriott from February 19-21. With investment
bankers, research analysts and trading professionals focused on clean
technology in the US, Europe and China, Jefferies is a Global Premiere
Sponsor of the Cleantech Venture Network.
"With more than 800 venture capitalists and other investors in
attendance, the strong turnout to this year's Cleantech Forum is a
testament to the growing investor interest in clean technology and
alternative energy," said Jeff Lipton, Managing Director of CleanTech
Investment Banking at Jefferies. "Over the past three years, this sector
has achieved critical mass, allowing investors to dedicate and commit
resources to understand and follow the related industries."
Leveraging the firm's strong coverage of growing companies in the clean
technology and alternative energy sectors, Jefferies recently introduced a
number of indices benchmarking emerging opportunities in this area. The
Jefferies Global Clean Technology IndexSM is a composite index of nearly 50
leading small- and mid-cap companies engaged in clean technology worldwide.
The Clean Technology index includes companies engaged in solar and wind
energy, as well as providers of biofuels, batteries, fuel cells,
microturbines, enzymes and catalysts, and crops and seeds. In addition to
the composite index, Jefferies has launched targeted sub-indices tracking
companies focused on energy generation, energy storage and industrial
biotechnology, markets for which widely available performance indicators do
not exist. For more information about Jefferies family of indices, visit
http://www.jefferies.com/indices.
About Jefferies
Jefferies, a global investment bank and institutional securities firm,
has served growing and mid-sized companies and their investors for 45
years. Headquartered in New York, with more than 25 offices around the
world, Jefferies provides clients with capital markets and financial
advisory services, institutional brokerage, securities research and asset
management. The firm is a leading provider of trade execution in equity,
high yield, convertible and international securities for institutional
investors and high net worth individuals. Jefferies & Company, Inc. is the
principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF)
(http://www.jefferies.com).
For further information, please contact:
Tom Tarrant, Jefferies & Company, Inc., 203 708 5989,
ttarrant@jefferies.com
Todd Miller, Cubitt, Jacobs & Prosek Communication, 203 378 1152 x 149,
tmiller@cjpcom.com
SOURCE Jefferies
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Related links:
http://www.jefferies.com/
CONTACT:
Tom Tarrant of Jefferies & Company, Inc.,
+1-203-708-5989, ttarrant@jefferies.com; or Todd Miller of
Cubitt, Jacobs & Prosek Communication, +1-203-378-1152, ext 149,
tmiller@cjpcom.com, for Jefferies & Company, Inc.
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